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 Post subject: August 5th Wednesday 2009 Emini ES points +5.25
PostPosted: Wed Aug 05, 2009 8:54 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name NihabaAshi. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=61&t=266

Back to back trading days in which the first 3 trades were losers. However, just like yesterday, an APAOR trade signal appeared to save the day. Yet, the afternoon session was a little difficult but that was mainly because I was trying a new trade management approach after entry.

Took a long mid-day (afternoon) nap because I'm feeling a little tired after all the vacation activities. Usually it takes me a few resting days or long naps soon after a big vacation to feel normal again and comfortable in my trading.

FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand along with being able to exploit the changes in supply/demand.


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

However, don't be mistaken, I do not believe that profitable trading involves only trade signals and if you don't understand...please ask questions here at the forum for more info or you can tweet me on twitter.

My Trading Performance: +5.25 Emini ES points

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Stocks Slip On Economic Jitters
Markets take a pause from the recent run-up after reports on jobs and services signal a slow recovery.
By Catherine Clifford, CNNMoney.com staff writer
Last Updated: August 5, 2009: 5:15 PM ET

NEW YORK (CNNMoney.com) -- Stocks lost ground Wednesday as investors became cautious in the wake of some weaker-than-expected economic reports.

The Dow Jones industrial average (INDU) gave up 39 points, or 0.4%, the Standard & Poor's 500 (SPX) lost 3 points, or 0.3%, and the tech-heavy Nasdaq composite (COMP) eased 18 points, or 0.9%.

The retreat reverses Wall Street's recent run, which has been spurred by better-than-expected second-quarter corporate results and signs of economic stabilization. Last month was the strongest July for the Dow and S&P 500 in two decades.

"The market has been surprisingly resilient in the face of some negative" news, said Dave Hinnenkamp, CEO of KDV Wealth Management. "A lot of economic data points have been improving. You are seeing some confidence come back."

Given the recent rally, Hinnenkamp said the pullback Wednesday was not a surprise, and he does not expect the slide to be prolonged. "Even in bull markets, you have corrections and those are healthy," he said.

Investors are holding out for "some real positive news rather than just less negative news," said Russell Lundeberg Jr., CIO of Barrett Capital Management.

While most companies have managed to beat expectations during the latest quarterly reporting period, those impressive numbers were largely a result of cost cutting and low expectations. "We need to see top line growth to see the sustained growth in the fundamentals for companies," said Lundeberg Jr.

On Thursday, the Labor Department reports on weekly jobless claims. The number of people who filed for first time benefits is expected to be 580,000, according to a consensus estimate from Briefing.com, a slight decrease from the 584,000 who filed in the week prior. Furthermore, sales figures for July from the nation's retailers are due throughout the morning.

Job market: Two reports on Wednesday showed that the labor market continues to face challenges and that recovery on the employment front will be slow.

"I think everyone out there knows that in order to get a solid recovery, you need the jobs market to come back," said Hinnenkamp.

Paycheck processor Automatic Data Processing (ADP) said private-sector employers cut 371,000 jobs in July, the smallest monthly total since October. Although the pace of job cuts is slowing, the number was higher than expected.

In addition, outplacement firm Challenger said companies' planned job cuts rose 31% in July, indicating problems in the employment sector are far from over.

"Just because we are not seeing the worst of the worst in terms of the job market doesn't mean that we are actually adding a lot of jobs," said Lundeberg.

The reports come ahead of the U.S. Labor Department's closely watched monthly jobs report, which will be released Friday. That report is expected to show that the economy shed 328,000 jobs in July, less than the 467,000 reported for June, according to a consensus estimate of economists compiled by Briefing.com. The unemployment rate is predicted to rise to 9.6% from 9.5%.

Economy: A report showed that the U.S. services sector contracted more than expected in July. The Institute for Supply Management's services index fell to 46.4 from 47 in June, shy of economists' forecast of 48. Any reading under 50 indicates the sector is contracting.

Meanwhile, a report from the Commerce Department showed a surprise uptick in demand for U.S.-made manufactured goods. Factory orders increased 0.4% in June, while economists were bracing for a decline of 0.8%, according to the Briefing.com economists' consensus.

Earnings: Consumer goods firm Procter & Gamble (PG, Fortune 500) reported profits slightly higher than expected, although revenue declined as consumers moved away from its high-end product lines. Shares of Procter & Gamble lost 3%.

Kraft Foods (KFT, Fortune 500) reported an 11% jump in profit after U.S. markets closed Tuesday. Shares of Kraft ended nearly unchanged Wednesday.

Shares of Whole Foods (WFMI, Fortune 500) surged 16% after the gourmet food retailer turned a better-than-expected profit and a 2% rise in sales during its fiscal third quarter.

Shares of bailed out insurance giant American International Group, AIG (AIG, Fortune 500), surged more 63% as the company brought on a new CEO, former MetLife (MET, Fortune 500) chief Bob Benmosche. AIG is set to report its quarterly results Friday before the opening bell.

Oil and gold: U.S. light crude oil for September delivery settled up 55 cents at $71.97 a barrel. In its weekly supply report, the government said crude supplies rose by by 1.7 million barrels last week, surpassing analysts' expectations of a 1.5 million barrel build, according to a consensus estimate by industry monitor Platts.

COMEX gold for December delivery fell $3.40 to $966.30 an ounce.

Bonds:Treasury prices fell, with the yield on the benchmark 10-year note jumping to 3.77%. Treasury prices and yields move in opposite directions. On Wednesday, the government announced plans to auction $75 billion in U.S. debt next week.

Other markets: In global trading, Asian stocks fell as investors paused. Major European markets were mixed as investors digested another round of bank earnings.

In currency trading, the dollar fell against the Japanese yen and the British pound and held nearly even with the euro.

U.S. market breadth was negative. On the New York Stock Exchange, decliners beat out advancers on a volume of 1.88 billion shares. On the Nasdaq, decliners beat out advancers two to one on volume of 2.40 billion shares.

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Yahoo! Finance

4:15 pm : Despite continued strength among financial issues, the major equity averages surrendered some of their recent gains in the wake of a generally unimpressive batch of economic data.

Financials outperformed the broader market with relative ease for the second straight session. They jumped out to an early gain and were able to remain in positive ground for virtually the entire session before closing with a 3.3% gain. Financials are now up more than 8% this week.

Better-than-expected earnings from Marsh & McLennan (MMC 22.62, +1.12) gave insurers a lift and helped drive short-covering in left-for-dead names like AIG (AIG 22.00, +8.48), but bank stocks provided some of the most support to the broader market. Regional banks advanced 2.9%, diversified banks climbed 5.4%, and diversified financial services stocks (+5.4%) like Bank of America (BAC 16.62, +0.98) and JPMorgan Chase (JPM 41.78, +1.57) bounded.

Materials stocks also garnered support and finished 0.8% higher after spending the middle half of the session in the red. Besides financials, it was the only other sector in the S&P 500 to make a gain. The sector benefited from a rebound in commodity prices, which saw oil prices rebound from a loss of more than 2% to close 0.8% higher at nearly $72 per barrel. Oil prices were initially pressured by a larger-than-expected weekly inventory build of 1.67 million barrels.

Steel stocks (+2.6%) also provided support to the materials sector after AK Steel (AKS 21.92, +0.98) said it would raise prices.

The rest of the stock market struggled for most of the session. Losses were broad-based and considerable as most of the major sectors in the S&P 500 traded at least 1% into the red. Their weakness wasn't necessarily caused by the day's economic data, but the data certainly didn't stir up any support for stocks either.

Released before the opening bell, the latest ADP Employment Report indicated that 371,000 jobs were slashed in July, but that was greater than the 350,000 job losses that had been forecast. Meanwhile, job losses for June were revised lower to reflect 463,000 job cuts. The figures come ahead of the government's nonfarm payrolls report, which is expected to show 328,000 job losses when it is released Friday.

The ADP data was followed by some modest selling pressure in premarket trading, but stocks still started the session flat. Selling pressure intensified ahead of the latest ISM Service Index and factory orders data.

The ISM Services Index for July unexpectedly slipped to 46.4 from 47.0 in June. It was expected to come in at 48.0. The disappointing reading caused participants to generally dismiss the third straight monthly increase in factory orders, which most recently turned 0.4% higher in June.

The broader market did attempt another upward push into the close, but this time the advance was rebuffed. Still, the S&P 500 held above the 1000 mark as its decliners outnumbered its advancing issues by 2-to-1 in relatively high volume. Declining issues outnumbered advancers by more than 2-to-1 in the Dow. Procter & Gamble (PG 53.91, -1.55) was a primary laggard among blue chips, even though the company bested the consensus earnings estimate for the latest quarter. Fellow Dow component Kraft (KFT 28.33, -0.01) also lagged, despite posting a positive earnings surprise. DJ30 -39.22 NASDAQ -18.26 NQ100 -0.9% R2K -0.8% SP400 -0.3% SP500 -2.93 NASDAQ Adv/Vol/Dec 969/2.36 bln/1701 NYSE Adv/Vol/Dec 1388/1.88 bln/1640

3:35 pm : Weakness was felt in the dollar again this session. As such, commodities found support. The dollar index is now down 2.5% over the last five sessions.

September crude oil futures traded lower, in extremely volatile action, following a greater-than-expected build in crude oil inventories. However, September crude oil rose thereafter and made it into positive territory not long before the close of the pit trade. The September contracts closed at $71.97 per barrel, up 0.8%.

Natural gas futures also traded in volatile fashion along the flat-line following the crude inventory report this morning. The September natural gas futures pushed to a session high soon after at $4.09 per contract. They stayed in positive territory for the rest of the pit trade and closed up 1% at $4.04 per contract.

Gold futures also felt pressure early in the session. After hitting a session low at $961.10 per ounce in the morning, the December gold futures rallied, with the help of the dollar, to close near the flat line, down 0.4% at $966.30 per ounce.

Meanwhile, silver futures traded into negative territory after hitting a session high at $14.85 per ounce in the morning. After bottoming above the $14.60 level, the September silver futures rallied for the rest of the session to close at $14.76, up fractionally. DJ30 -42.01 NASDAQ -19.41 SP500 -2.33 NASDAQ Adv/Vol/Dec 871/2.00 bln/1782 NYSE Adv/Vol/Dec 1333/1.10 bln/1689

3:00 pm : With just one hour remaining in the session, stocks have made their way to fresh afternoon highs and are now closing in on the neutral line. The late move has been broad-based, in general, but financials continue to lead the way with a 3.0% gain, which marks a session high for the sector.

The rebound effort by stocks has caused participants to rotate out of Treasuries. That has the benchmark 10-year Note back in the red to trade near session lows and its yield back above 3.7%.DJ30 -23.05 NASDAQ -16.88 SP500 -1.23 NASDAQ Adv/Vol/Dec 888/1.79 bln/1766 NYSE Adv/Vol/Dec 1371/951 mln/1646

2:30 pm : Materials stocks have managed to make their way into positive territory. They now trade with a 0.3% gain after spending the last few hours in the red.

The rebound by materials stocks mirrors a rebound by commodity prices. After spending most of the session in the red, the CRB Commodity Index is up 0.2% as oil prices climb into the close of pit trading. Oil was last quoted at nearly $72 per barrel, up 0.7%.DJ30 -56.98 NASDAQ -23.51 SP500 -5.25 NASDAQ Adv/Vol/Dec 802/1.65 bln/1831 NYSE Adv/Vol/Dec 1211/858 mln/1791

2:00 pm : Though stocks are off of their afternoon lows, they remain range bound; during the last four hours the S&P 500 has traded in just a seven point span.

Similar to the previous session, the broader market is mired in weakness, but airline stocks are garnering support. With that, the AMEX Airline Index is up 2.6%.DJ30 -63.18 NASDAQ -23.36 SP500 -6.22 NASDAQ Adv/Vol/Dec 758/1.55 bln/1857 NYSE Adv/Vol/Dec 1110/794 mln/1876

1:30 pm : The S&P 500 is trying to break free from its recent trading range once again. The latest effort has it trading just short of the 1000 mark, which was violated this morning when stocks went on the backslide.

Switching gears, Briefing.com will cover earnings announcements from roughly 100 companies after the closing bell. Allstate (ALL 28.00, -0.17), Cisco (CSCO 22.19, -0.25), and News Corp (NWSA 10.54, -0.05) are among the more widely-held companies due to announce.DJ30 -56.37 NASDAQ -21.53 SP500 -6.22 NASDAQ Adv/Vol/Dec 741/1.43 bln/1837 NYSE Adv/Vol/Dec 1098/720 mln/1893

1:05 pm : Financials (+1.6%) continue to garner support amid weakness in the broader market. Marsh & McLennan (MMC 22.35, +0.85) is a primary leader in the sector after reporting better-than-expected quarterly earnings, but bank stocks are collectively higher. In turn, marked gains are being made by the Regional Bank HOLDRs Trust (RKH 77.65, +2.18) and the SPDR KBW Banking Index (KBE 21.64, +0.43).

While financials provided leadership in the previous session, the broader market has been unwilling to follow this time around.

Stocks actually started the session near the neutral line even though reported job losses in the July ADP Employment Report were a worse-than-expected 371,000. However, selling pressure began to intensify ahead of the June factory orders data and ISM Service Index for July.

A surprise 0.4% uptick in June factory orders made for the third straight monthly increase, but interest in that report was offset by news that the ISM Services Index for July slipped to 46.4 from 47.0 in June. The July ISM was expected to come in at 48.0.

Despite beating Wall Street's earnings expectations, Kraft (KFT 28.14, -0.20) and Procter & Gamble (PG 53.83, -1.63) are weighing on the Dow this session. Yet it is the Nasdaq that is making the worst showing of the three headline indices as Electronic Arts (ERTS 20.36, -1.53) sinks after posting upbeat earnings and a solid forecast.

Oil services and equipment outfits Transocean (RIG 76.90, -3.43) and Baker Hughes (BHI 38.99, -2.98) both reported an earnings miss for the latest quarter. That, coupled with lower oil prices, has them trading substantially lower.

Oil prices are currently down 0.5% at $ $71.05 per barrel after recovering from below the $70 per barrel mark, which was reached shortly after a larger-than-expected weekly inventory build of 1.67 million barrels was reported.DJ30 -75.19 NASDAQ -26.94 SP500 -7.74 NASDAQ Adv/Vol/Dec 706/1.34 bln/1853 NYSE Adv/Vol/Dec 970/672 mln/1982

12:30 pm : After lifting off of session lows and entering into range bound trade, the Dow and S&P 500 have managed to make their way to their best levels since midmorning. However, losses remain marked.

The Nasdaq continues to lag its counterparts, though Whole Foods (WFMI 28.84, +4.02) is providing support after reporting better-than-expected quarterly earnings and issuing an upside outlook. Electronic Arts (ERTS 20.42, -1.47) also posted a positive earnings surprise and issued an upside forecast, but the stock is trading as a laggard in the Nasdaq.DJ30 -69.98 NASDAQ -25.72 SP500 -6.81 NASDAQ Adv/Vol/Dec 715/1.20 bln/1807 NYSE Adv/Vol/Dec 1015/594 mln/1905

12:00 pm : Losses remain broad-based among the major U.S. indices. Stocks in Europe also faltered so that Germany's DAX closed 1.2% lower, Britain's FTSE fell 0.5%, and France's CAC closed 0.5% lower. All three major European bourses had traded with healthy gains earlier in the session.

Action was even more downbeat in Asia. Japan's Nikkei fell 1.2% and Hong Kong's Hang Seng slipped 1.5%.

With losses so considerable among the major global indices, the Dow Jones World Index is currently down 0.8%.DJ30 -83.84 NASDAQ -26.34 SP500 -8.83 NASDAQ Adv/Vol/Dec 729/1.08 bln/1779 NYSE Adv/Vol/Dec 929/532 mln/1979

11:30 am : The major indices continue to work their way off of session lows, but losses remain.

Industrial stocks are currently contending with the most selling pressure. The sector is down 2.6%, more than any other sector, as falling industrial stocks outnumber advancing industrial stocks in the S&P 500 by 7-to-1. However, General Electric (GE 13.93, +0.11) is showing relative strength as it sports a solid gain. DJ30 -81.16 NASDAQ -23.59 SP500 -7.54 NASDAQ Adv/Vol/Dec 730/951 mln/1762 NYSE Adv/Vol/Dec 924/461 mln/1962

11:00 am : Stocks have pulled up a bit from recently reached session lows, but losses remain considerable and broad-based as nine of the 10 major sectors in the S&P 500 remain in negative territory -- seven of the nine declining sectors are showing losses in excess of 1%.

Financials are still the only sector in positive territory; they are up 0.5%. Marsh & McLennan (MMC 22.43, +0.93) is a primary leader in the financial sector after reporting better-than-expected earnings for its latest quarter.

The downturn by stocks has prompted interest in Treasuries. The benchmark 10-year Note was down markedly in the early going, but it has since reversed course to trade with a respectable gain. That has its yield back below 3.7%.DJ30 -82.95 NASDAQ -21.10 SP500 -8.47 NASDAQ Adv/Vol/Dec 676/801 mln/1759 NYSE Adv/Vol/Dec 809/373 mln/2023

10:35 am : September crude opened modestly lower this morning in pit trading, but just before 10:00ET, crude began to fall sharply, hitting pre-inventory data lows of $70.14. In recent trading, crude bounced off those lows ahead of today's inventory data. Following the data, which showed a build of 1.67 million barrels (consensus was a build of 600,000), crude did not see an immediate reaction, but fell to new lows of $69.71 shortly after. Currently, crude is down 2.4% at $69.74 per barrel.

September natural gas trended higher overnight and has been trading in and out of positive and negative territory in recent trading. Currently, natural gas is 0.3% lower at $3.987.

The dollar has bounced off of morning lows and is back into positive territory in recent trading. December gold is trading in choppy fashion this morning and is currently trading 0.6% lower at $963.90 per ounce. September silver continued to trend higher from overnight trading, hitting highs of $14.85. Recently, silver fell off highs and back into negative territory and is down 0.3% at $14.645 per ounce.DJ30 -95.14 NASDAQ -20.99 SP500 -8.77 NASDAQ Adv/Vol/Dec 664/636.5 mln/1704 NYSE Adv/Vol/Dec 806/302.7 mln/1980

10:00 am : Stocks are sliding, which began before the latest batch of economic data hit news wires. The data hasn't done anything to stop the downturn.

The ISM Service Index for July came in at 46.4, which is worse than the 48.0 that was expected. July's headline number marks the tenth straight sub-50 reading, which means that activity in the sector continues to contract, albeit at a more moderate pace than in previous months. The June reading came in at 47.0, but that was the best reading since September.

Meanwhile, factory orders for June made a surprise 0.4% increase. A 0.8% dip was expected. Factory orders for May were revised slightly lower to reflect a 1.1% increase, but factory orders have still increased three consecutive times. DJ30 -84.56 NASDAQ -19.45 SP500 -8.12 NASDAQ Adv/Vol/Dec 730/392 mln/1517 NYSE Adv/Vol/Dec 836/205 mln/1860

09:45 am : Stocks are chopping along near the neutral line in the first few minutes of action. However, financial stocks have jumped out to another strong gain; the sector is up 1.5% to build on the previous session's plus-2% advance, which means that the financial sector is now up nearly 7% week-to-date.

Banks are the primary point of strength for the financial sector, though there haven't been any major industry players out with any market-moving news. Such was also the case yesterday. Nonetheless, diversified banks are up 2.1% and regional banks are up 2.6%, while diversified financial services companies are up 3.5%.DJ30 -17.60 NASDAQ +0.91 SP500 -0.35 NASDAQ Adv/Vol/Dec 1000/204 mln/1103 NYSE Adv/Vol/Dec 1278/132 mln/1335

09:15 am : S&P futures vs fair value: +0.60. Nasdaq futures vs fair value: +2.00. Stocks continue to look as if they will make a flat start for Wednesday. The neutral tone comes despite a strong finish to the previous session and better-than-expected quarterly earnings from Dow components Kraft (KFT) and Procter & Gamble (PG). A higher-than-expected job loss tally from the July ADP Employment Report did cause stock futures to weaken modestly. However, the initial negative reaction has eased with the recognition that the 371,000 job losses really weren't that far from the consensus estimate of 350,000 job losses. That has helped support the thought that job losses in the government's nonfarm payrolls number (due Friday) won't be too far off of the 328,000 losses that are currently expected. Participants have another pair of trading cues coming up at the top of the hour, though. The ISM Service Index for July and factory orders data for June are both due at 10:00 AM ET.

09:00 am : S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +0.80. Pit trading has just opened and oil prices are being quoted 0.2% lower at $71.25 per barrel. That is weighing a bit on energy stocks, but action could see some changes with the release of the weekly inventory report at 10:30 AM ET. Still, Transocean (RIG) is down considerably this morning. Its shares were last quoted near $77.24 each, down 3.9%, ahead of the opening bell. The company posted a sizable earnings miss this morning. Baker Hughes (BHI) also reported an earnings miss. Its shares are down almost 5% to $40.00 each in premarket action. Meanwhile, gold prices are down a meaningful 0.4% to $964.00 per ounce. That is weighing on Yamana Gold (AUY) ahead of the opening bell. Its shares are down more than 1% in premarket trading, even though the company posted better-than-expected earnings for its latest quarter.

08:35 am : S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -0.80. European stocks are garnering support midweek. According to The Wall Street Journal, services in the United Kingdom expanded for the second straight month in July as the Purchasing Managers Index moved to a 17-month high of 53.2. Meanwhile, Reuters.com reported that British industrial output made an unexpected 0.5% monthly increase in June. As for stocks in Britain, the FTSE is up 0.5% as banks HSBC (HBC), Barclays (BCS), Standard Chartered, and Lloyds Banking (LYG) all provide leadership. According to The Wall Street Journal, Lloyds reported that loan impairments increased sharply in the first half of the year, but the bank posted a first-half net profit that was up robustly from the year before. Lloyds expects second half write-downs to come down significantly. In France, the CAC is up 0.9% as financial outfits provide leadership. AXA (AXA) is providing key support, despite news that it reported a 39% drop in first-half profit. However, according to The Wall Street Journal, the company still beat market expectations. Societe Generale is a primary leader in the CAC. According to The Wall Street Journal, it returned to profit in the second quarter, despite steep charges and write-downs. In Germany, the DAX is up 0.5% as Allianz (AZ) shows leadership. Banking issues are also providing support. According to The Wall Street Journal, retail sales in the 16 countries that use the euro fell again in June, driven by a large drop in Germany. Reports said sales volume in the euro zone fell by 0.2% from May and declined 2.4% from June 2008. The data were weaker than expected. In Asia, Stocks suffered. Japan's Nikkei fell 1.2% as declining issues outnumbered advancers by more than 2-to-1. Fast Retailing and Fanuc were primary laggards. They offset strength in Shionogi & Co. In Hong Kong, the Hang Seng shed 1.5%. Banks were weak as China Construction Bank Hong Kong and Bank of China faltered. HSBC was also a primary laggard.

08:15 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -2.30. The latest ADP Employment Change Report has just hit news wires and stock futures have made a modest pullback in its wake. According to the report, job losses during July totaled 371,000, which is steeper than the 350,000 losses that were expected. Job losses for June totaled 473,000. While the ADP numbers haven't been the most precise predictor of the government's official nonfarm jobs number, it has been a good directional indicator of actual job losses relative to expectations. Currently, the consensus forecast for the government's official nonfarm job loss total for July stands at 328,000. The actual figure will be released Friday morning.

08:00 am : S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -0.30. Stock futures have improved from overnight levels and now point toward a flat start for the major equity averages. Dow components Kraft (KFT) and Procter & Gamble (PG) both topped Wall Street's earnings expectations, but they issued in-line forecasts. Earnings results since Tuesday's closing bell have generally been better than expected. Market participants await the July ADP Employment Change Report, which is due at 8:15 AM ET. The consensus estimate calls for 350,000 job losses. Though the report hasn't been a precise indicator of the government's official nonfarm jobs number, the ADP number has been a good directional indicator of actual job losses relative to expectations.

06:17 am : S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +0.30.

06:17 am : Nikkei...10252.53...-122.50...-1.20%. Hang Seng...20494.77...-301.70...-1.50%.

06:17 am : FTSE...4681.21...+9.80...+0.20%. DAX...5417.62...+0.60...0.00.

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